Armenia posts 7.6% economic activity in Feb. 2019

Armenia’s economic activity was 7.6% in February 2019, with the total economic activity index revealing a dynamics of 6.5% for the first two months of this year (against January-February 2018), according to official statistics.

Also in the reporting periods, the development sector saw a growth of over 20% (compared to the 21.3% in February and the 21.6% - in January-February 2018).

The index, published by the National Statistical Committee, reveals an increase in the industrial output by 4.7% compared to February 2018, the growth for the first two months amounting to a total of 1.9%. As for energy production, it dropped sharply by 14.5% to 21% against last February.

The statistics reveals also a price hike of 1.9%. Simultaneously, the average monthly salary increased by 5.3% compared to February 2018 (2.6% in - the public sector and 5.4% - in the private sector).

The foreign trade turnover rose by 31.3% to an equivalent of $568.2 million (AMD 277.4 billion) against the same period. Last month alone, it saw a 28% growth compared to January.